Havilah readies for first gold in 2016
PERTH (miningweekly.com) – First gold pour from the Portia gold mine, in South Australia, was expected by July next year, owner Havilah Resources said on Tuesday.
Speaking at the South Australian Resources and Energy Investment conference, Havilah MD Chris Giles noted that mining of the Portia openpit started on schedule and on budget on March 30, with site preparation works completed in within about six weeks from bringing first equipment on site.
“The 50-person Portia camp and associated workshop are fully operational with some 40 personnel already on site. Workers are being bussed in and out of Broken Hill on a ten-day on and five-day off roster,” he said.
In January this year, Havilah executed a contract with civil contractor Consolidated Mining & Civil (CMC) to start contract mining at its Portia gold project. The contract also included funding arrangements, and would see CMC fund and conduct mining operations at Portia, delivering the gold ore to the surface stockpiles at its own expense and risk.
Havilah subsidiary Benagerie Gold would be responsible for processing the ore and producing gold for delivery to a refiner.
With the mining fully funded and Havilah responsible only for processing costs, shareholders can look forward to significant returns from gold sales in 2016, which will put Havilah in a good position to advance development of its other projects, including the much larger neighbouring Kalkaroo copper/gold deposit,” Giles said.
The Portia mine has a Joint Ore Reserve Committee inferred resource of 720 000 t, grading 2.9 g/t gold for 67 000 oz of contained gravity recoverable gold.
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